The Western Balkans, once a whisper in the global startup conversation, are finding their voice. With countries like Croatia producing unicorns such as Infobip and Rimac Automobili, the narrative has shifted from risk to opportunity.
Now, one of the most active investors in South-Eastern Europe is making its commitm
ent concrete. LAUNCHub Ventures has appointed Zagreb-based Vedran Blagus as its new associated partner, tasked with leading the firm’s charge across Croatia, Slovenia, and the Western Balkans. Blagus, who previously spent 8 years at South Central Ventures, brings deep regional expertise and a clear mandate: to make LAUNCHub the first-choice partner for the region’s best founders.
“We have known Vedran for many years, and he is undoubtedly one of the strongest VCs in the region. Our joint investment in SplxAI, and the entire experience of working together showed not only that we share the same conviction about the opportunity in Croatia but also that we are very aligned culturally. With Vedran joining the team, our ambition is clear: to make LAUNCHub the preferred first institutional cheque for the most ambitious founders coming out of the Western Balkans,” said Stanislav Sirakov, General Partner at LAUNCHub Ventures.
A conviction forged in co-investment
For Blagus, the move to LAUNCHub Ventures was less a sudden leap and more a natural evolution of a long-standing relationship. The timing, he explains, was a perfect alignment of market opportunity and a proven track record of successful collaboration.
“I have known the LAUNCHub team since 2017, when I started in the VC industry, and we have been in regular contact ever since,” Blagus told The Recursive. That long-term dialogue, sharing deal flow and comparing notes, crystallised in March 2025 with a co-investment that would become a landmark deal for the region. “The clearest example was SplxAI, where I backed the company from South Central Ventures alongside LAUNCHub leading the seed round. That deal – one of the fastest meaningful exits the region has seen, with Zscaler acquiring SplxAI later that same year – made it obvious that we read the region the same way and that we work well together.”
The fund is no stranger to the area, with portfolio companies like SplxAI and GlycanAge in Croatia, and Mediately and Kriptomat in Slovenia and Serbia. But the SplxAI exit underscored a shared thesis. “They have already deployed real capital here and built real conviction,” Blagus adds. “What was missing was a full-time person on the ground to deepen that presence.
The ambition has shifted upward
Croatia’s ecosystem has matured significantly, and the proof points are stacking up. Before the recent successes, foundational stories like Photomath, Rimac, and Infobip set the template: you can build globally significant companies from the region. A common thread among their founders is a relentless focus on global markets from day one and deep technical expertise in their domain.
“SplxAI – a homegrown AI security company going from seed to a major US acquisition within the same year – is exactly the kind of landmark outcome that signals the ecosystem has matured,” Blagus points out. He also highlights GlycanAge, a Croatian company that has become a global category leader in longevity diagnostics.
This deep technical talent is precisely what LAUNCHub is targeting. The firm is making big bets on AI-native infrastructure, AI security, health and biotech, and B2B software for the European mid-market. The rise of AI has also raised the bar. “Having a working product is just the starting point, not a reason to invest,” he says. “What matters now is evidence that someone actually needed this built—real customers paying full price and a clear reason this specific team is the right one to build it.”
Yet, a crucial piece of infrastructure has been missing. “The one gap that remains is a lack of regional funds willing to lead at Series A and B,” he argues. “Local founders too often have to fly to Berlin, London, or the US to get a credible Series A conversation going. This is exactly where LAUNCHub plays a role. Our co-investor network across leading European and US funds means we can warm up those rounds early and shorten the path to the next stage.”
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‘The first person founders in the Western Balkans call’
When asked what success looks like, Blagus’s focus is clear and founder-centric. He wants LAUNCHub to be recognized as the first serious institutional partner for ambitious technical founders across the entire region.
“Founders should know what to expect from us: fast decisions, honest and direct answers, and a relationship built on being genuinely useful rather than on optics,” he emphasizes. “That means opening our network, helping with key hires, and providing candid feedback on product and strategy—even when it’s tough to hear.”
This philosophy ladders up to a few concrete goals. “First, build the kind of deal flow in Croatia, Slovenia and the Western Balkans where I see the best founders early. Second, lead or co-lead a handful of investments I genuinely believe can achieve abnormal outcomes.”
“And the one I care about most,” he concludes, “I want to be the first person founders in this region call when they are looking for funding, or when they need help scaling their company. Not the third or fourth – the first.”
It’s a bold statement of intent, signalling a desire to be more than just a name on a cap table, but a true partner in building a company. It’s this deep integration into the ecosystem that Blagus believes will define LAUNCHub’s presence and impact in the Western Balkans for years to come.
